As of the 1st of December 2017 Short Assured and Assured Tenancies will no longer be in use. The new Private Residential Tenancy Agreement will be used for  new tenancies from the 1st of December 2017.  The new Model Tenancy Agreement, which is a Government issued document, can be viewed here.

There are a number of changes in the new tenancy which will impact  the way in which privately rented property is let and managed; see below for key changes:

  • New tenancies will have no end date, only a start date, new tenancies are essentially open ended.
  • Landlords are no longer able to end a tenancy without a reason, the no fault ground does not form part of the new tenancy. Landlords will be required to serve notice using one of the 18 grounds available
  • Tenants can end a tenancy at any time provided they give 28 days’ notice in writing, we currently require two months’ notice however this will change to 28 days on the 1st of December 2017
  • The notice period landlords are required to give their tenants is changing too. Landlords must give tenants 28 days’ notice if the property has been occupied for 28 days or less or 84 days if the property had been occupied for 6 months or more

Please note the new regime does not affect existing tenancies. Short Assured Tenancies  will continue to run until they are ended by either the landlord or tenant.

On the 1st of December 2017 the First-tier Tribunal will commence hearing cases on PRS legal disputes, see below for more information: 

  •  Agents must adhere to a statutory code of practice from this date; the code sets out standards for all aspects of letting agency work and requires agents to hold professional indemnity and client money protection insurance and hold client money in a dedicated client account;
  • If a current or former landlord or tenant believes that a letting agent they have let a property through or from has failed to comply with the code, and remains dissatisfied after raising their complaint with the agent, they can apply to the First-tier Tribunal;
  •  If the tribunal decides a letting agent has failed to comply with the code, it must issue an enforcement order setting out the steps the letting agent must take to rectify the problem and by when. An enforcement order may also require a letting agent to pay compensation.

On the 31st January 2018 the letting agent code of practice comes into force. Weslo Property Management is ready to register and have been operating to the high standards set out by the code since our inception in 2013. More information on the new code is detailed below:

  • Agents must adhere to a statutory code of practice from this date; the code sets out standards for all aspects of letting agency work and requires agents to hold professional indemnity and client money protection insurance and hold client money in a dedicated client account;
  •  If a current or former landlord or tenant believes that a letting agent they have let a property through or from has failed to comply with the code, and remains dissatisfied after raising their complaint with the agent, they can apply to the First-tier Tribunal;
  • If the tribunal decides a letting agent has failed to comply with the code, it must issue an enforcement order setting out the steps the letting agent must take to rectify the problem and by when. An enforcement order may also require a letting agent to pay compensation.

1st October 2018 – deadline for letting agents to register with Scottish Ministers.

  • Agents must apply for registration online by this date;
  • Key individuals within the agency must meet a training requirement at the point of registration

If you have any questions or queries regarding any of the information provided on this page please feel free to call into our offices or call us on 01506639168.